Moove shuts Nigeria operations, gives customers N35bn vehicles

Moove, a global mobility company founded in Lagos, has announced plans to shut down its operations in Nigeria and transfer ownership of eligible vehicles worth about N35 billion to its existing customers.

The company disclosed this on Thursday, six years after commencing operations in Nigeria.

According to Moove, customers whose vehicles qualify under the arrangement will take full ownership of them, with no further payment required to the company for the vehicles from October 1, 2026.

The company said the decision marked a significant change in its operations in the Nigerian market, where it had provided vehicle financing and mobility services to drivers.

Moove said the transfer would enable eligible customers to retain ownership of the vehicles they had been using under its financing arrangement.

The company did not disclose further details on the reasons for ending its Nigerian operations in the announcement.